We are a webiste in Chicago and would like to hold a weekly competition and give a cash prize of $50. Any tax consequences?

Prize winnings are included in the long list of "other" income that the tax law says is taxable. And it's not just limited to cash awards. You've...

After closing (deed recorded), escrow informed me that transfer tax was incorrectly charged to Seller and they want the money.

You should pay the tax as per your agreement. THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual...

Sept. 22,2010 My aunt is currently 71 years of age, and considered low income in Michigan. Is she exempt from Property Taxes?

No, she is not exempt from paying property tax. THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual...

In the State of Michigan, If you own a home, a senior over 71, & low income, can you be totally exempt from paying property tax.

No, you would still need to pay property tax. THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual...

What do I need to do for my tax service?

You need to get an occupational license. You may need several (city, county, municipality). You may also want to consider opening a corporation...

If they are public record in OR, then they would be at the county recorder's office (located in the county where the decedent resided). THESE...

Can California make us pay a capital gains tax that we owed from 1993 when we moved to another state?

The statute of limitations only applies to years where there was an assessment (a return was filed). If no return was filed, then the statute of...

There are not likely to be any gift tax ramifications if you give the house to your daughter. The property tax on the house may go up as result of...

How is Capital Gains calculated on sale of second home in Wisconsin which has large home equity loan balance?

Your capital gain would be the sale price (600K) less your basis in the property (565K). You would only owe tax on 35K (assuming the above...

Do I have rights to my ex tax 2009 return when were divorced 12/2009?

He is allowed to file single for 2009 as long as the divorce was final on December 31, 2009. No, you would not be entitled to his refund. THESE...